Union Budget 2017-2018 Complete Details (Download PDF)

New Delhi (TH Correspondent): The Union minister Sh. Arun Jaitly presented the Union Budget 2017-2018. Hello I am Mohit Bhardwaj and going to share the key factors of this budget. When you see the Budget of this year which is presented by Hon’ble Sh. Arun Jaitly there are 10 sectors where he focuses: The rural population, The farming sector, The youth, The Poor and Underprivileged health care, Infrastructure and Construction, The financial sector for stronger institutions, Speedy accountability, Public services, Prudent fiscal management and Tax administration for the honest.

Out of 76 lakh individual assessees declaring income more than Rs. 5 lakh, 56 lakh are salaried.

Only 1.72 lakh people showed income of more than Rs. 50 lakh a year.

Between November 8 to December 30, deposits ranging from Rs. 2 lakh and Rs. 80 lakh were made in 1.09 crore accounts.

Personal income tax

Existing rate of tax for individuals between Rs. 2.5- Rs 5 lakh is reduced to 5% from 10%.

All other categories of tax payers in subsequent brackets will get a benefit of Rs 12,500.

Simple one page return for people with an annual income of Rs. 5 lakh other than business income.

People filing I-T returns for the first time will not come under any government scrutiny.

Ten % surcharge on individual income above Rs. 50 lakh and up to Rs 1 crore to make up for Rs 15,000 crore loss due to cut in personal I-T rate. 15 surcharge on individual income above Rs. 1 crore to remain